Mortgage News

Existing-Home Sales Inch Back 0.4% in April

The overall economy slowed to a growth rate of 2.1% in the April-June quarter from 3.1% in the first quarter as the trade deficit, which is a drag on growth, widened and businesses cut back on capital.

It’s August, so naturally, volatility is back. US equity markets ended a. a useful leading indicator of new and existing home sales, remains higher by nearly 10% over the past six months.

Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 0.4% from March to a seasonally adjusted annual rate of 5.19 million in April. Total sales are down 4.4% from a year ago (5.43 million in April 2018), according to an NAR press release.

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Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 0.4% from March to a seasonally adjusted annual rate of 5.19 million in April. Total sales are down 4.4% from a year ago (5.43 million in April 2018).

Existing-home sales in the South modestly dropped 0.4% to an annual rate of 2.27 million in April, down 1.7% from a year ago. The median price in the South was $236,800, up 4.4% from a year ago. Existing-home sales in the West grew 1.8% to an annual rate of 1.11 million in April, 5.9% below a year ago.

April existing home sales down 0.4%, miss expectations 10:29 AM ET Tue, 21 May 2019 CNBC’s Diana Olick reports on new numbers showing existing home sales for the month of April were down 0.4.

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Year-over-year, existing home sales were down 4.4%. (Source: " Existing-Home Sales Inch Back 0.4% in April ," National Association of Realtors, May 21, 2019.) Clearly, all these indicators are saying that people are not interested in buying a home in the United States.

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Despite the fact that home sales saw a slight drop in April, the CEO of Warburg Realty, Frederick Peters, still believes homes are ‘an investment in the future.’ He stops Yahoo Finance to discuss that, as well as the impact the 2008 recession left on millennial homebuyers, ".coming out of the recession, optimism never really came back.

From the NAR: Existing-Home Sales Inch Back 0.4% in April Existing-home sales saw a minor decline in April, continuing March’s drop in sales, according to the National Association of Realtors. Two of the four major U.S. regions saw a slight dip in sales, while the West saw growth and the Midwest essentially bore no changes last month.